SEMrush Holdings, Inc(NYSE:SEMR) 
SEMrush Holdings, Inc. develops online visibility management software as a service (SaaS) platform. It helps businesses to run search engine optimization, pay-per-click, content, social media, and competitive research campaigns. The company offers insights and solutions to build, manage, and measure...
Website: https://www.semrush.com/
Founded: 2008
IPO Price: $14 (Mar 25, 2021)
Full Time Employees: 1,100 (Mar 2022)
CEO / Founder: Oleg Shchegolev
cmo: Andrew Warden
Sector: Technology
Industry: Software—Application
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At a glance:
- Subscription-Driven Revenue Model with High Gross Margins: SEMrush operates a recurring SaaS model focused on digital marketing intelligence, typically characterized by strong gross margins and predictable revenue streams tied to customer subscriptions.
- Growth Depends on Customer Expansion and Retention: Key performance is influenced by net customer adds, upsell/cross-sell into higher-tier plans, and retention dynamics in the SMB and mid-market segments.
- Profitability Path Tied to Operating Leverage: As the company scales, investors often focus on whether sales & marketing and R&D spend translate into durable operating leverage, improving operating margins over time.
- Competitive Market and Platform Differentiation Are Central: SEMrush competes in a crowded SEO and digital marketing tools landscape; differentiation through product breadth (SEO, content, competitive intelligence) and data quality is a key driver of share gains.
- Macro Sensitivity via Marketing Budget Cycles: Demand can be influenced by broader advertising and marketing spend trends, with SMB budget tightening potentially affecting new customer acquisition and churn rates.
Bull Thesis:
- Market Leadership and Comprehensive Platform: SEMrush holds a strong position in the digital marketing tools market, recognized for its extensive suite of features covering SEO, content marketing, PPC, and competitive intelligence. This broad offering creates a sticky ecosystem for users and drives continued adoption by consolidating multiple needs into one platform.
- Strong Recurring Revenue and High Retention Potential: Operating on a SaaS subscription model, SEMrush benefits from predictable recurring revenue. Its comprehensive platform, continuous feature development, and value proposition contribute to high customer retention rates, ensuring a stable and growing revenue base.
- Large and Expanding Total Addressable Market (TAM): The digital marketing industry continues to grow globally, with businesses of all sizes increasingly investing in online presence and digital strategies. SEMrush is well-positioned to capture a significant share of this expanding market, driven by the ongoing digital transformation and the need for data-driven insights.
- Strategic Acquisitions and Product Innovation: SEMrush has a history of strategic acquisitions that enhance its product capabilities and market reach, such as Backlinko. Coupled with continuous internal innovation and feature rollouts, this allows the company to stay ahead of market trends and offer cutting-edge solutions to its users, expanding its competitive moat.
Bear Thesis:
- Intense Competition in Digital Marketing Tools: The digital marketing software space is highly competitive, with established players like Ahrefs, Moz, Similarweb, HubSpot, and numerous niche tools. This intense competition can lead to pricing pressures, increased customer acquisition costs, and potential market share erosion if SEMrush fails to differentiate effectively.
- Path to Consistent Profitability and Free Cash Flow: Despite strong revenue growth, SEMrush has historically faced challenges in achieving consistent GAAP profitability and positive free cash flow, often due to heavy reinvestment in growth and sales & marketing. Investors may demand a clearer and faster path to sustainable earnings and cash generation.
- Reliance on Search Engine Algorithm Stability: A core value proposition of SEMrush's SEO tools relies on analyzing and predicting search engine algorithms, primarily Google's. Significant, unpredictable changes to these algorithms could impact the accuracy and utility of their data, potentially reducing customer value, increasing churn, and requiring substantial R&D investment to adapt.
- Vulnerability to Economic Downturns and Marketing Budget Cuts: Digital marketing budgets, especially for small and medium-sized businesses (SMBs) which form a significant part of SEMrush's customer base, can be discretionary. In an economic downturn, these budgets are often among the first to be reduced, potentially leading to slower customer acquisition, increased churn, and reduced average revenue per user for SEMrush.
Main Competitors:
- Ahrefs (Ahrefs Webmaster Tools), Ahrefs is a primary direct competitor, especially strong in SEO with comprehensive tools for keyword research, backlink analysis, site audits, rank tracking, and content exploration, directly overlapping with SEMrush's core SEO offerings.
- Moz (Moz Pro), Moz Pro offers a similar suite of SEO tools, including keyword explorer, link explorer, site audit, and rank tracking. It's a long-standing competitor known for its SEO authority and community, directly vying for the same SEO professional user base.
- Similarweb Ltd. ($SMWB) (Similarweb Platform), Similarweb specializes in competitive intelligence, website traffic analysis, and market research. It provides deep insights into competitor strategies, audience behavior, and industry trends, directly competing with SEMrush's competitive analysis and market research features.
- SpyFu (SpyFu), SpyFu focuses heavily on competitive keyword research and PPC analysis. It allows users to uncover competitors' organic and paid keywords, ad copy, and budget estimates, directly competing with SEMrush's advertising research and competitive PPC tools.
Moat:
SEMrush operates in a highly competitive SaaS market for online visibility management. Its moat is built on its extensive and continuously updated data sets (keywords, backlinks, ad creatives), its comprehensive 'all-in-one' platform strategy that integrates SEO, PPC, content, and social media tools, and its strong brand recognition. Competition comes from both specialized tools that might offer deeper insights in a particular niche (e.g., Ahrefs for backlinks) and broader marketing suites. The key competitive factors include data accuracy, breadth and depth of features, user experience, and pricing, requiring continuous innovation to maintain market share.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 117,659,000 | 112,075,000 | 108,892,000 | 105,018,000 | 102,642,000 | 97,410,000 | 90,951,000 | 85,812,000 | 83,394,000 | 78,718,000 | 74,693,000 | 70,870,000 | 68,785,000 | 65,793,000 | 62,610,000 | 57,128,000 | 53,746,000 | 49,252,000 | 45,005,000 | 39,998,000 |
yoy | 14.63% | 15.05% | 19.73% | 22.38% | 23.08% | 23.75% | 21.77% | 21.08% | 21.24% | 19.64% | 19.30% | 24.05% | 27.98% | 33.58% | 39.12% | 42.83% | ||||
qoq | 4.98% | 2.92% | 3.69% | 2.31% | 5.37% | 7.10% | 5.99% | 2.90% | 5.94% | 5.39% | 5.39% | 3.03% | 4.55% | 5.08% | 9.60% | 6.29% | 9.12% | 9.44% | 12.52% | |
cost of revenue | 23,107,000 | 22,220,000 | 21,110,000 | 19,871,000 | 18,812,000 | 17,063,000 | 14,957,000 | 14,645,000 | 13,684,000 | 13,032,000 | 12,972,000 | 12,639,000 | 11,963,000 | 12,405,000 | 12,598,000 | 11,587,000 | 11,561,000 | 11,362,000 | 10,238,000 | 8,773,000 |
gross profit | 94,552,000 | 89,855,000 | 87,782,000 | 85,147,000 | 83,830,000 | 80,347,000 | 75,994,000 | 71,167,000 | 69,710,000 | 65,686,000 | 61,721,000 | 58,231,000 | 56,822,000 | 53,388,000 | 50,012,000 | 45,541,000 | 42,185,000 | 37,890,000 | 34,767,000 | 31,225,000 |
yoy | 12.79% | 11.83% | 15.51% | 19.64% | 20.26% | 22.32% | 23.13% | 22.21% | 22.68% | 23.04% | 23.41% | 27.87% | 34.70% | 40.90% | 43.85% | 45.85% | ||||
qoq | 5.23% | 2.36% | 3.09% | 1.57% | 4.33% | 5.73% | 6.78% | 2.09% | 6.13% | 6.42% | 5.99% | 2.48% | 6.43% | 6.75% | 9.82% | 7.96% | 11.34% | 8.98% | 11.34% | |
gross margin % | 80.36% | 80.17% | 80.61% | 81.08% | 81.67% | 82.48% | 83.55% | 82.93% | 83.59% | 83.44% | 82.63% | 82.17% | 82.61% | 81.15% | 79.88% | 79.72% | 78.49% | 76.93% | 77.25% | 78.07% |
operating expenses | ||||||||||||||||||||
sales and marketing | 45,934,000 | 44,341,000 | 45,011,000 | 41,307,000 | 39,730,000 | 35,689,000 | 35,000,000 | 33,921,000 | 31,044,000 | 30,094,000 | 30,237,000 | 35,496,000 | 39,596,000 | 30,569,000 | 30,894,000 | 25,830,000 | 25,694,000 | 20,674,000 | 18,298,000 | 16,457,000 |
research and development | 25,749,000 | 25,708,000 | 23,801,000 | 21,912,000 | 21,305,000 | 22,183,000 | 19,288,000 | 17,304,000 | 15,371,000 | 14,075,000 | 14,116,000 | 13,880,000 | 13,261,000 | 10,134,000 | 9,671,000 | 8,138,000 | 6,825,000 | 6,174,000 | 5,964,000 | 5,358,000 |
general and administrative | 36,772,000 | 24,296,000 | 23,315,000 | 22,002,000 | 21,054,000 | 20,770,000 | 18,312,000 | 18,474,000 | 20,613,000 | 18,769,000 | 19,388,000 | 18,640,000 | 17,391,000 | 17,007,000 | 14,218,000 | 14,163,000 | 13,320,000 | 11,372,000 | 10,520,000 | 7,904,000 |
total operating expenses | 108,455,000 | 94,345,000 | 92,127,000 | 85,221,000 | 82,089,000 | 78,642,000 | 72,600,000 | 69,699,000 | 67,028,000 | 62,938,000 | 64,050,000 | 68,999,000 | 72,095,000 | 63,642,000 | 58,268,000 | 48,131,000 | 45,839,000 | 38,220,000 | 34,782,000 | 29,719,000 |
income from operations | -13,903,000 | -4,490,000 | -4,345,000 | -74,000 | 1,741,000 | 1,705,000 | 3,394,000 | 1,468,000 | 2,682,000 | 2,748,000 | -2,329,000 | -10,768,000 | -15,273,000 | -10,254,000 | -8,256,000 | -2,590,000 | -3,654,000 | -330,000 | -15,000 | 1,506,000 |
yoy | -898.56% | -363.34% | -228.02% | -105.04% | -35.09% | -37.95% | -245.73% | -113.63% | -117.56% | -126.80% | -71.79% | 315.75% | 317.98% | 3007.27% | 54940.00% | -271.98% | ||||
qoq | 209.64% | 3.34% | 5771.62% | -104.25% | 2.11% | -49.76% | 131.20% | -45.26% | -2.40% | -217.99% | -78.37% | -29.50% | 48.95% | 24.20% | 218.76% | -29.12% | 1007.27% | 2100.00% | -101.00% | |
operating margin % | -11.82% | -4.01% | -3.99% | -0.07% | 1.70% | 1.75% | 3.73% | 1.71% | 3.22% | 3.49% | -3.12% | -15.19% | -22.20% | -15.59% | -13.19% | -4.53% | -6.80% | -0.67% | -0.03% | 3.77% |
other income | 4,091,000 | 2,160,000 | 2,287,000 | 4,172,000 | 2,927,000 | 2,912,000 | 2,616,000 | 3,639,000 | 5,585,000 | 2,104,000 | 2,919,000 | 1,705,000 | 1,103,000 | 1,483,000 | 711,000 | 159,000 | 51,000 | |||
income before income taxes | -9,812,000 | -2,330,000 | -2,058,000 | 4,098,000 | 4,668,000 | 4,617,000 | 6,010,000 | 5,107,000 | 8,267,000 | 4,852,000 | 590,000 | -9,063,000 | -14,170,000 | -8,771,000 | -7,545,000 | -2,431,000 | -3,920,000 | -514,000 | -138,000 | 1,557,000 |
provision for income taxes | 1,168,000 | 65,000 | 4,719,000 | 3,443,000 | 1,375,000 | 3,899,000 | 4,649,000 | 3,104,000 | 1,393,000 | 637,000 | 869,000 | 797,000 | -269,000 | 321,000 | 739,000 | -58,000 | 101,000 | 141,000 | 86,000 | |
net income | -10,980,000 | -2,395,000 | -6,777,000 | 655,000 | 3,293,000 | 718,000 | 1,361,000 | 2,003,000 | 6,874,000 | 4,215,000 | -279,000 | -9,860,000 | -13,901,000 | -9,092,000 | -8,284,000 | -2,571,000 | -279,000 | |||
yoy | -433.43% | -433.57% | -597.94% | -67.30% | -52.09% | -82.97% | -587.81% | -120.31% | -149.45% | -146.36% | -96.63% | 283.51% | 2869.18% | |||||||
qoq | 358.46% | -64.66% | -1134.66% | -80.11% | 358.64% | -47.24% | -32.05% | -70.86% | 63.08% | -1610.75% | -97.17% | -29.07% | 52.89% | 9.75% | 222.21% | |||||
net income margin % | -9.33% | -2.14% | -6.22% | 0.62% | 3.21% | 0.74% | 1.50% | 2.33% | 8.24% | 5.35% | -0.37% | -13.91% | -20.21% | -13.82% | -13.23% | -4.50% | 0% | 0% | -0.62% | 0% |
net loss attributable to noncontrolling interest in consolidated subsidiaries | 118,000 | -254,000 | -210,000 | -194,000 | -52,000 | -376,000 | -298,000 | |||||||||||||
net income attributable to semrush holdings, inc. | -11,098,000 | -2,141,000 | -6,567,000 | 849,000 | 3,345,000 | 1,094,000 | 1,659,000 | 2,138,000 | ||||||||||||
net income attributable to semrush holdings, inc. per share attributable to common stockholders—basic: | -0.08 | -0.01 | -0.04 | 0.01 | 0.03 | 0.01 | 0.01 | 0.01 | ||||||||||||
net income attributable to semrush holdings, inc. per share attributable to common stockholders—diluted: | -0.08 | -0.01 | -0.04 | 0.01 | 0.03 | 0.01 | 0.01 | 0.01 | ||||||||||||
weighted-average number of shares of common stock used in computing net income per share attributable to common stockholders—basic: | 148,540 | 148,824 | 148,311 | 147,214 | 145,865 | 146,436 | 145,678 | 144,566 | 142,593 | |||||||||||
weighted-average number of shares of common stock used in computing net income per share attributable to common stockholders—diluted: | 148,540 | 148,824 | 148,311 | 151,078 | 148,862 | 149,427 | 148,825 | 147,698 | 146,065 | |||||||||||
other comprehensive income: | ||||||||||||||||||||
foreign currency translation adjustments | 91 | 229 | 3,050 | 1,320 | -2,339 | 1,358 | -119 | -485 | 258 | -51 | -120 | 365 | 379 | -109 | -857 | -264 | ||||
unrealized gain on investments | -847 | 152 | 123 | 590 | -1,582 | 2,626 | 1,182 | 64 | ||||||||||||
comprehensive income | -11,736 | -2,014 | -3,604 | 2,565 | -628 | 4,702 | 1,058 | 774 | 8,314 | 4,228 | -5,294.25 | -9,201 | -9,141 | -2,835 | ||||||
comprehensive loss attributable to noncontrolling interest in consolidated subsidiaries | 118 | -254 | -210 | -194 | -52 | -376 | -298 | |||||||||||||
comprehensive income attributable to semrush holdings, inc. | -11,854 | -1,760 | -3,394 | 2,759 | -576 | 5,078 | 1,356 | 909 | ||||||||||||
exit costs | 309,000 | 983,000 | 1,847,000 | 5,932,000 | 3,485,000 | |||||||||||||||
other comprehensive income | ||||||||||||||||||||
unrealized loss on investments | -184 | -744 | -1,160 | -83 | ||||||||||||||||
net loss attributable to noncontrolling interest in consolidated subsidiary | -135,000 | |||||||||||||||||||
comprehensive loss attributable to noncontrolling interest in consolidated subsidiary | -135 | |||||||||||||||||||
net income per share | ||||||||||||||||||||
basic | -0.01 | 0.03 | -0.035 | -0.06 | -0.06 | -0.02 | 0.02 | |||||||||||||
diluted | -0.01 | 0.03 | -0.035 | -0.06 | -0.06 | -0.02 | 0.01 | |||||||||||||
weighted-average number of shares of common stock used in computing net income per share attributable to common stockholders: | ||||||||||||||||||||
basic | 142,837 | 141,256 | 141,042 | 140,790 | 135,673 | 135,312 | 96,376 | |||||||||||||
diluted | 146,271 | 141,256 | 141,042 | 140,790 | 135,673 | 135,312 | 131,356 | |||||||||||||
net income per share | ||||||||||||||||||||
basic and diluted | -0.07 | |||||||||||||||||||
weighted-average number of shares of common stock used in computing net loss per share attributable to common stockholders: | ||||||||||||||||||||
basic and diluted | 142,239 | 141,650 | ||||||||||||||||||
other comprehensive loss | ||||||||||||||||||||
comprehensive loss | -1,559 | -9,578 | ||||||||||||||||||
benefit from income taxes | 140,000 | |||||||||||||||||||
other expense | 778,000 | -184,000 | -123,000 | |||||||||||||||||
net income and comprehensive income | 144,250 | -615,000 | 1,471,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||
current assets | ||||||||||||||||||||
cash and cash equivalents | 264,280,000 | 80,780,000 | 54,322,000 | 64,665,000 | 48,875,000 | 45,083,000 | 69,626,000 | 41,388,000 | 58,848,000 | 41,189,000 | 24,072,000 | 56,889,000 | 79,765,000 | 246,554,000 | 248,917,000 | 259,824,000 | 269,665,000 | 188,510,000 | 180,759,000 | 171,867,000 |
short-term investments | 4,996,000 | 194,916,000 | 204,225,000 | 197,125,000 | 186,693,000 | 187,796,000 | 161,906,000 | 201,756,000 | 179,721,000 | 188,882,000 | 199,678,000 | 175,416,000 | 157,774,000 | |||||||
accounts receivable | 26,489,000 | 17,025,000 | 14,243,000 | 11,034,000 | 8,955,000 | 9,344,000 | 9,060,000 | 7,115,000 | 7,897,000 | 5,820,000 | 4,286,000 | 3,858,000 | 3,559,000 | 2,762,000 | 2,346,000 | 2,830,000 | 2,190,000 | 2,139,000 | 2,722,000 | 2,383,000 |
deferred contract costs, current portion | 13,281,000 | 11,206,000 | 10,178,000 | 10,161,000 | 10,044,000 | 9,755,000 | 9,738,000 | 9,613,000 | 9,074,000 | 8,192,000 | 7,404,000 | 7,059,000 | 6,974,000 | 7,362,000 | 7,276,000 | 6,886,000 | 6,338,000 | 5,904,000 | 5,418,000 | 4,817,000 |
prepaid expenses and other current assets | 15,800,000 | 19,947,000 | 18,138,000 | 14,461,000 | 21,617,000 | 20,429,000 | 30,268,000 | 16,914,000 | 10,014,000 | 16,403,000 | 16,898,000 | 11,909,000 | 9,307,000 | 6,340,000 | 10,484,000 | 4,612,000 | 5,345,000 | 6,574,000 | 7,180,000 | 3,626,000 |
total current assets | 324,846,000 | 323,874,000 | 301,106,000 | 297,446,000 | 276,184,000 | 272,407,000 | 280,598,000 | 276,786,000 | 265,554,000 | 260,486,000 | 252,338,000 | 255,131,000 | 257,379,000 | 263,018,000 | 269,023,000 | 274,152,000 | 283,538,000 | 203,127,000 | 196,079,000 | 182,693,000 |
property and equipment | 5,349,000 | 6,030,000 | 6,673,000 | 6,401,000 | 6,534,000 | 7,220,000 | 7,395,000 | 5,999,000 | 6,686,000 | 5,661,000 | 6,534,000 | 7,061,000 | 8,076,000 | 6,985,000 | 8,632,000 | 7,618,000 | 8,270,000 | 8,391,000 | 8,396,000 | 3,876,000 |
operating lease right-of-use assets | 11,248,000 | 12,690,000 | 11,551,000 | 12,133,000 | 11,126,000 | 11,048,000 | 11,812,000 | 12,225,000 | 14,069,000 | 10,942,000 | 11,188,000 | 11,193,000 | 12,009,000 | |||||||
intangible assets | 40,735,000 | 37,323,000 | 35,317,000 | 33,007,000 | 32,055,000 | 30,746,000 | 26,948,000 | 16,936,000 | 16,083,000 | 12,901,000 | 12,209,000 | 11,301,000 | 10,286,000 | 11,254,000 | 11,344,000 | 11,379,000 | 2,925,000 | 2,111,000 | 2,127,000 | 2,176,000 |
goodwill | 60,123,000 | 59,812,000 | 59,924,000 | 57,682,000 | 56,139,000 | 54,299,000 | 40,630,000 | 24,757,000 | 24,879,000 | 7,738,000 | 7,853,000 | 7,766,000 | 6,529,000 | 6,337,000 | 6,740,000 | 8,079,000 | 1,991,000 | 1,991,000 | 1,991,000 | 1,991,000 |
deferred contract costs, net of current portion | 5,596,000 | 4,253,000 | 3,495,000 | 3,379,000 | 3,080,000 | 2,722,000 | 2,997,000 | 3,485,000 | 3,586,000 | 3,189,000 | 2,565,000 | 2,187,000 | 2,082,000 | 2,443,000 | 2,586,000 | 2,476,000 | 2,254,000 | 2,201,000 | 2,140,000 | 2,000,000 |
other long-term assets | 6,239,000 | 6,430,000 | 6,883,000 | 6,453,000 | 5,825,000 | 5,355,000 | 2,568,000 | 1,542,000 | 633,000 | 1,045,000 | 1,202,000 | 861,000 | 2,329,000 | 1,096,000 | 972,000 | 1,026,000 | 1,130,000 | |||
total assets | 454,136,000 | 450,412,000 | 424,949,000 | 416,501,000 | 390,943,000 | 383,797,000 | 372,948,000 | 341,730,000 | 331,490,000 | 301,962,000 | 293,889,000 | 295,500,000 | 298,690,000 | 293,785,000 | 302,246,000 | 307,447,000 | 300,074,000 | 218,793,000 | 211,759,000 | 193,866,000 |
liabilities and stockholders' equity | ||||||||||||||||||||
current liabilities | ||||||||||||||||||||
accounts payable | 23,797,000 | 20,878,000 | 13,505,000 | 14,218,000 | 10,463,000 | 11,541,000 | 11,199,000 | 10,159,000 | 9,187,000 | 9,904,000 | 10,246,000 | 11,373,000 | 15,495,000 | 13,153,000 | 5,729,000 | 10,838,000 | 9,942,000 | 5,196,000 | 9,135,000 | 10,233,000 |
accrued expenses | 27,369,000 | 25,872,000 | 20,627,000 | 21,606,000 | 20,216,000 | 20,284,000 | 21,788,000 | 19,597,000 | 19,891,000 | 17,923,000 | 16,469,000 | 19,229,000 | 17,847,000 | 17,647,000 | 25,309,000 | 19,718,000 | 19,479,000 | 22,285,000 | 12,847,000 | 10,286,000 |
deferred revenue | 93,187,000 | 83,596,000 | 81,730,000 | 79,926,000 | 71,827,000 | 68,996,000 | 66,589,000 | 63,985,000 | 58,310,000 | 55,240,000 | 55,937,000 | 56,255,000 | 49,354,000 | 47,121,000 | 48,303,000 | 47,548,000 | 40,232,000 | 36,051,000 | 34,652,000 | 32,078,000 |
current portion of operating lease liabilities | 5,407,000 | 5,462,000 | 4,966,000 | 5,202,000 | 4,669,000 | 4,768,000 | 4,829,000 | 4,143,000 | 4,274,000 | 3,713,000 | 3,770,000 | 3,660,000 | 3,694,000 | |||||||
other current liabilities | 4,290,000 | 5,467,000 | 4,853,000 | 5,750,000 | 6,913,000 | 7,462,000 | 7,601,000 | 2,642,000 | 2,817,000 | 1,878,000 | 2,411,000 | 2,479,000 | 2,311,000 | 2,664,000 | 2,621,000 | 1,687,000 | 1,896,000 | 1,877,000 | 1,859,000 | |
total current liabilities | 154,050,000 | 141,275,000 | 125,681,000 | 126,702,000 | 114,088,000 | 113,051,000 | 112,006,000 | 100,526,000 | 94,479,000 | 88,658,000 | 88,833,000 | 92,996,000 | 88,701,000 | 80,585,000 | 81,962,000 | 79,791,000 | 71,549,000 | 65,409,000 | 58,493,000 | 52,597,000 |
deferred revenue, net of current portion | 469,000 | 469,000 | 235,000 | 235,000 | 235,000 | 210,000 | 237,000 | 306,000 | 331,000 | 405,000 | 263,000 | 238,000 | 122,000 | 382,000 | 185,000 | 320,000 | 237,000 | 243,000 | 237,000 | 181,000 |
deferred tax liability | 1,475,000 | 1,541,000 | 1,798,000 | 1,634,000 | 1,621,000 | 1,965,000 | 1,932,000 | 633,000 | 839,000 | 24,000 | 100,000 | 15,000 | 11,000 | 111,000 | 24,000 | 111,000 | 268,000 | 126,000 | 126,000 | 153,000 |
operating lease liabilities, net of current portion | 7,134,000 | 8,482,000 | 7,852,000 | 8,569,000 | 7,602,000 | 7,315,000 | 8,084,000 | 9,150,000 | 10,331,000 | 7,880,000 | 8,125,000 | 8,042,000 | 8,929,000 | |||||||
other long-term liabilities | 13,000 | 97,000 | 1,216,000 | 1,203,000 | 1,045,000 | 2,261,000 | 1,534,000 | 67,000 | 1,195,000 | 226,000 | 674,000 | 756,000 | 1,023,000 | 1,430,000 | 2,179,000 | 2,662,000 | 2,478,000 | 2,960,000 | 3,438,000 | 1,024,000 |
total liabilities | 163,141,000 | 151,864,000 | 136,782,000 | 138,343,000 | 124,591,000 | 124,802,000 | 123,793,000 | 110,682,000 | 107,175,000 | 97,193,000 | 97,995,000 | 102,047,000 | 98,786,000 | 82,508,000 | 84,350,000 | 82,884,000 | 74,532,000 | 68,738,000 | 62,294,000 | 53,955,000 |
commitments and contingencies | ||||||||||||||||||||
stockholders' equity | ||||||||||||||||||||
undesignated preferred stock, 0.00001 par value — 100,000 shares authorized, and no shares issued or outstanding as of december 31, 2025 or 2024 | ||||||||||||||||||||
class a common stock | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||
class b common stock | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||||||||||||
additional paid-in capital | 368,781,000 | 358,060,000 | 345,664,000 | 331,917,000 | 322,586,000 | 313,924,000 | 306,103,000 | 297,857,000 | 291,898,000 | 285,831,000 | 281,184,000 | 277,184,000 | 274,057,000 | 271,783,000 | 269,201,000 | 266,727,000 | 264,871,000 | 185,292,000 | 184,087,000 | 174,254,000 |
accumulated other comprehensive income | 2,487,000 | 3,243,000 | 2,862,000 | 1,700,000 | ||||||||||||||||
accumulated deficit | -82,719,000 | -71,621,000 | -69,480,000 | -62,913,000 | -63,762,000 | -67,107,000 | -68,201,000 | -69,860,000 | -71,998,000 | -78,872,000 | -83,087,000 | -82,808,000 | -72,948,000 | -59,047,000 | -49,955,000 | -41,671,000 | -39,100,000 | -35,238,000 | -34,623,000 | -34,344,000 |
total stockholders' equity attributable to semrush holdings, inc. | 288,550,000 | 289,683,000 | 279,047,000 | 268,694,000 | 256,604,000 | 248,518,000 | 235,619,000 | 226,017,000 | 219,149,000 | |||||||||||
noncontrolling interest in consolidated subsidiaries | 2,445,000 | 8,865,000 | 9,120,000 | 9,464,000 | 9,748,000 | 10,477,000 | 4,803,000 | |||||||||||||
total stockholders’ equity | 290,995,000 | 298,548,000 | 288,167,000 | 278,158,000 | 266,352,000 | 258,995,000 | 240,422,000 | 231,048,000 | 224,315,000 | 204,769,000 | 195,894,000 | 193,453,000 | 199,904,000 | 211,277,000 | 224,563,000 | 225,542,000 | 150,055,000 | 149,465,000 | 139,911,000 | |
total liabilities and stockholders' equity | 454,136,000 | 390,943,000 | 341,730,000 | 331,490,000 | 301,962,000 | 293,889,000 | 295,500,000 | 293,785,000 | 307,447,000 | |||||||||||
liabilities, noncontrolling interest, and stockholders' equity | ||||||||||||||||||||
total liabilities, noncontrolling interest and stockholders' equity | 450,412,000 | 424,949,000 | 416,501,000 | 383,797,000 | ||||||||||||||||
accumulated other comprehensive loss | -311,000 | -2,221,000 | -2,284,000 | -1,981,000 | -752,000 | -2,191,000 | -2,204,000 | -230,000 | ||||||||||||
undesignated preferred stock, 0.00001 par value — 100,000 shares authorized, and no shares issued or outstanding as of december 31, 2024 or 2023 | ||||||||||||||||||||
liabilities, redeemable noncontrolling interest, and stockholders' equity | ||||||||||||||||||||
redeemable noncontrolling interest | 8,733,000 | |||||||||||||||||||
total liabilities, redeemable noncontrolling interest and stockholders' equity | 372,948,000 | |||||||||||||||||||
liabilities and stockholders’ equity | ||||||||||||||||||||
noncontrolling interest in consolidated subsidiary | 5,031,000 | 5,166,000 | ||||||||||||||||||
undesignated preferred stock, 0.00001 par value — 100,000 shares authorized, and no shares issued or outstanding as of december 31, 2023 or 2022 | ||||||||||||||||||||
undesignated preferred stock, 0.00001 par value - 100,000 shares authorized, and no shares issued or outstanding as of september 30, 2023 or december 31, 2022 | ||||||||||||||||||||
undesignated preferred stock, 0.00001 par value - 100,000 shares authorized, and no shares issued or outstanding as of june 30, 2023 or december 31, 2022 | ||||||||||||||||||||
undesignated preferred stock, 0.00001 par value - 100,000 shares authorized, and no shares issued or outstanding as of march 31, 2023 or december 31, 2022 | ||||||||||||||||||||
accumulated other comprehensive deficit | -924,000 | -1,206,000 | -1,460,000 | -1,351,000 | -494,000 | |||||||||||||||
stockholders’ equity | ||||||||||||||||||||
undesignated preferred stock, 0.00001 par value — 100,000 shares authorized, and no shares issued or outstanding as of december 31, 2022 or 2021 | ||||||||||||||||||||
total liabilities and stockholders’ equity | 298,690,000 | |||||||||||||||||||
other assets | 3,748,000 | 3,921,000 | 3,743,000 | |||||||||||||||||
long-term liabilities | ||||||||||||||||||||
undesignated preferred stock, 0.00001 par value - 100,000,000 shares authorized, and no shares issued or outstanding as of september 30, 2022 or december 31, 2021 | ||||||||||||||||||||
undesignated preferred stock, 0.00001 par value - 100,000,000 shares authorized, and no shares issued or outstanding as of june 30, 2022 or december 31, 2021 | ||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ equity | ||||||||||||||||||||
series a redeemable convertible preferred stock, 0.00001 par value - no shares authorized, issued or outstanding as of december 31, 2021; 3,379,400 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
series a-1 redeemable convertible preferred stock, 0.00001 par value - no shares authorized, issued, or outstanding as of december 31, 2021; 1,837,600 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
series b convertible preferred stock, 0.00001 par value - no shares authorized, issued, or outstanding as of december 31, 2021; 4,681,400 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
common stock | ||||||||||||||||||||
class a common stock, 0.00001 par value... | ||||||||||||||||||||
class b common stock, 0.00001 par value... | 1,000 | |||||||||||||||||||
total liabilities, redeemable convertible preferred stock, and stockholders’ equity | 300,074,000 | |||||||||||||||||||
series a redeemable convertible preferred stock, 0.00001 par value - no shares authorized, issued or outstanding as of september 30, 2021; 3,379,400 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
series a-1 redeemable convertible preferred stock, 0.00001 par value - no shares authorized, issued or outstanding as of september 30, 2021; 1,837,600 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
series b convertible preferred stock, 0.00001 par value - no shares authorized, issued or outstanding as of september 30, 2021; 4,681,400 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
undesignated preferred stock, 0.00001 par value - 100,000,000 shares authorized, and no shares issued or outstanding as of september 30, 2021; no shares authorized, issued, or outstanding as of december 31, 2020 | ||||||||||||||||||||
total liabilities, redeemable convertible preferred stock, and stockholders' equity | 218,793,000 | 211,759,000 | ||||||||||||||||||
series a redeemable convertible preferred stock, 0.00001 par value - no shares authorized, issued or outstanding as of june 30, 2021; 3,379,400 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
series a-1 redeemable convertible preferred stock, 0.00001 par value - no shares authorized, issued or outstanding as of june 30, 2021; 1,837,600 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
series b convertible preferred stock, 0.00001 par value - no shares authorized, issued or outstanding as of june 30, 2021; 4,681,400 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
undesignated preferred stock, 0.00001 par value - 100,000,000 shares authorized, and no shares issued or outstanding as of june 30, 2021; no shares authorized, issued, or outstanding as of december 31, 2020 | ||||||||||||||||||||
series a redeemable convertible preferred stock, 0.00001 par value - no shares authorized, issued or outstanding as of march 31, 2021; 3,379,400 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
series a-1 redeemable convertible preferred stock, 0.00001 par value - no shares authorized, issued or outstanding as of march 31, 2021; 1,837,600 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
series b convertible preferred stock, 0.00001 par value - no shares authorized, issued or outstanding as of march 31, 2021; 4,681,400 shares authorized, issued and outstanding as of december 31, 2020 | ||||||||||||||||||||
undesignated preferred stock, 0.00001 par value - 100,000,000 shares authorized, and no shares issued or outstanding as of march 31, 2021; no shares authorized, issued, or outstanding as of december 31, 2020 | ||||||||||||||||||||
total liabilities, redeemable convertible preferred stock, and stockholders' deficit | 193,866,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
net income | -10,980,000 | -2,395,000 | -6,777,000 | 655,000 | 3,293,000 | 718,000 | 1,361,000 | 2,003,000 | 6,874,000 | -9,860,000 | -13,901,000 | -9,092,000 | -8,284,000 | -2,571,000 | -615,000 | -279,000 | 1,471,000 | |||
adjustments to reconcile net income to net cash from operating activities | ||||||||||||||||||||
depreciation and amortization expense | 3,970,000 | 3,582,000 | 2,889,000 | 3,424,000 | 2,974,000 | 2,825,000 | 2,086,000 | 2,183,000 | 1,983,000 | 1,672,000 | 1,648,000 | 1,487,000 | 24,000 | 2,405,000 | 2,766,000 | 1,455,000 | 1,097,000 | 991,000 | 987,000 | 460,000 |
amortization of deferred contract costs | 3,946,000 | 3,661,000 | 3,569,000 | 3,474,000 | 3,288,000 | 3,109,000 | 3,038,000 | 3,016,000 | 2,869,000 | 2,655,000 | 2,458,000 | 2,397,000 | 1,843,000 | 2,382,000 | 2,680,000 | 2,083,000 | 1,911,000 | 1,628,000 | 1,628,000 | 1,322,000 |
amortization of premiums and discounts on investments | -96,000 | -605,000 | -741,000 | -659,000 | -719,000 | -528,000 | -952,000 | -1,071,000 | ||||||||||||
non-cash lease expense | 1,322,000 | 1,238,000 | 1,194,000 | 1,257,000 | 1,139,000 | 1,198,000 | 1,069,000 | 1,164,000 | 1,112,000 | 942,000 | 991,000 | 895,000 | ||||||||
stock-based compensation expense | 17,103,000 | 12,974,000 | 13,436,000 | 9,112,000 | 8,143,000 | 7,575,000 | 7,166,000 | 5,115,000 | 4,573,000 | 4,203,000 | 3,765,000 | 2,796,000 | 2,277,000 | 1,980,000 | 2,204,000 | 932,000 | 953,000 | 627,000 | 569,000 | 593,000 |
non-cash interest expense | 51,000 | 53,000 | 52,000 | 53,000 | 146,000 | 43,000 | 53,000 | 54,000 | ||||||||||||
change in fair value included in other income | 135,000 | 188,000 | -107,000 | -1,164,000 | -481,000 | |||||||||||||||
deferred taxes | -159,000 | -250,000 | 94,000 | -55,000 | -808,000 | -69,000 | -117,000 | -100,000 | 289,000 | -69,000 | 77,000 | 4,000 | -543,000 | 88,000 | -81,000 | 283,000 | 142,000 | 0 | -27,000 | -56,000 |
intangible asset impairment expense | ||||||||||||||||||||
other non-cash items | 136,000 | 111,000 | 375,000 | 880,000 | -479,000 | 57,000 | 556,000 | 844,000 | 87,000 | 122,000 | 81,000 | 568,000 | ||||||||
changes in operating assets and liabilities | ||||||||||||||||||||
accounts receivable | -9,854,000 | -2,875,000 | -3,260,000 | -2,167,000 | 1,009,000 | 473,000 | -1,556,000 | 782,000 | -1,528,000 | -1,839,000 | 682,000 | -1,104,000 | -2,973,000 | -453,000 | 462,000 | -353,000 | -50,000 | 583,000 | -339,000 | -985,000 |
deferred contract costs | -7,364,000 | -5,447,000 | -3,700,000 | -3,891,000 | -3,935,000 | -2,851,000 | -2,674,000 | -3,455,000 | -4,147,000 | -4,067,000 | -3,181,000 | -2,587,000 | -1,094,000 | -2,325,000 | -3,180,000 | -2,853,000 | -2,398,000 | -2,175,000 | -2,369,000 | -2,420,000 |
prepaid expenses and other current assets | 4,375,000 | -1,919,000 | -3,787,000 | -379,000 | -1,291,000 | 522,000 | -1,742,000 | -2,275,000 | 3,064,000 | 458,000 | -5,218,000 | -651,000 | -1,051,000 | 3,479,000 | -6,114,000 | 1,240,000 | 1,140,000 | 606,000 | -3,554,000 | -976,000 |
accounts payable | 2,906,000 | 7,622,000 | -929,000 | 3,559,000 | -1,489,000 | 33,000 | 894,000 | 1,012,000 | -1,824,000 | -386,000 | -958,000 | -4,226,000 | 1,969,000 | 7,538,000 | -5,031,000 | 2,317,000 | 4,746,000 | -3,939,000 | -859,000 | 1,579,000 |
accrued expenses | 290,000 | 5,095,000 | -1,528,000 | 1,632,000 | 88,000 | -1,621,000 | 1,503,000 | 1,414,000 | 1,453,000 | 1,564,000 | -3,859,000 | 2,469,000 | 1,924,000 | -7,590,000 | 5,758,000 | -940,000 | -2,806,000 | 9,438,000 | 2,561,000 | 2,420,000 |
other current liabilities | 66,000 | -299,000 | 20,000 | -887,000 | 750,000 | -390,000 | 4,000 | -1,956,000 | -27,000 | |||||||||||
deferred revenue | 10,397,000 | 2,138,000 | 1,485,000 | 7,873,000 | 1,627,000 | -501,000 | 1,695,000 | 5,658,000 | 2,557,000 | -760,000 | -47,000 | 7,005,000 | 2,834,000 | -941,000 | 656,000 | 6,584,000 | 4,173,000 | 1,405,000 | 2,630,000 | 5,599,000 |
other long-term liabilities | 4,000 | 158,000 | 7,000 | -8,000 | 132,000 | 0 | -548,000 | 510,000 | ||||||||||||
change in operating lease liability | -1,284,000 | -1,076,000 | -1,599,000 | -1,301,000 | -964,000 | -1,271,000 | -1,026,000 | -1,121,000 | -1,127,000 | -986,000 | -791,000 | -1,009,000 | ||||||||
net cash from operating activities | 14,896,000 | 21,894,000 | 684,000 | 22,109,000 | 11,933,000 | 8,141,000 | 12,143,000 | 14,779,000 | 11,553,000 | 6,356,000 | -6,314,000 | -3,609,000 | -9,630,000 | -583,000 | -7,437,000 | 8,026,000 | 5,011,000 | 8,691,000 | 1,052,000 | 9,007,000 |
capital expenditures | -3,945,000 | -4,852,000 | -4,257,000 | -3,604,000 | -2,411,000 | -1,978,000 | -4,501,000 | -2,774,000 | -1,421,000 | -1,391,000 | -2,263,000 | -1,324,000 | -651,000 | -1,709,000 | -2,924,000 | -656,000 | -1,792,000 | -970,000 | -732,000 | -289,000 |
free cash flows | 10,951,000 | 17,042,000 | -3,573,000 | 18,505,000 | 9,522,000 | 6,163,000 | 7,642,000 | 12,005,000 | 10,132,000 | 4,965,000 | -8,577,000 | -4,933,000 | -10,281,000 | -2,292,000 | -10,361,000 | 7,370,000 | 3,219,000 | 7,721,000 | 320,000 | 8,718,000 |
investing activities | ||||||||||||||||||||
purchases of property and equipment | -67,000 | -397,000 | -604,000 | -725,000 | -391,000 | -505,000 | -2,147,000 | -759,000 | -1,421,000 | -108,000 | -689,000 | -268,000 | -218,000 | -1,218,000 | -2,428,000 | -370,000 | -822,000 | -808,000 | -584,000 | -166,000 |
capitalization of internal-use software costs | -3,878,000 | -4,455,000 | -3,653,000 | -2,879,000 | -2,020,000 | -1,473,000 | -2,354,000 | -2,015,000 | ||||||||||||
purchases of short-term investments | -69,466,000 | -9,807,000 | -34,368,000 | -27,156,000 | -14,402,000 | -53,163,000 | -36,899,000 | -46,706,000 | -75,135,000 | -9,694,000 | -68,936,000 | -103,751,000 | ||||||||
proceeds from sales and maturities of short-term investments | 258,592,000 | 20,000,000 | 28,000,000 | 18,000,000 | 15,000,000 | 30,000,000 | 77,500,000 | 25,000,000 | 86,900,000 | 22,000,000 | 45,000,000 | 87,741,000 | ||||||||
purchases of convertible debt securities | 0 | -3,000,000 | -7,000 | 4,000 | 0 | -323,000 | 0 | 0 | 0 | -2,000,000 | 0 | 0 | 0 | -500,000 | ||||||
funding of investment loan receivables | ||||||||||||||||||||
proceeds from repayment of investment loan receivables | 0 | 81,000 | 0 | 7,676,000 | ||||||||||||||||
cash paid for acquisition of assets and businesses, net of cash acquired | -3,927,000 | -550,000 | -585,000 | -512,000 | 0 | 7,000 | -14,000,000 | |||||||||||||
purchase of noncontrolling interest | -90,000 | -513,000 | ||||||||||||||||||
purchases of other investments | 0 | -65,000 | 0 | 0 | 0 | -150,000 | ||||||||||||||
net cash from investing activities | 175,100,000 | 4,871,000 | -11,343,000 | -5,686,000 | -7,146,000 | -44,889,000 | 25,794,000 | -31,981,000 | 5,251,000 | 10,769,000 | -26,199,000 | -18,889,000 | -158,550,000 | -1,709,000 | -2,917,000 | -16,656,000 | -1,792,000 | -970,000 | -732,000 | -1,139,000 |
financing activities | ||||||||||||||||||||
proceeds from exercise of stock options | 3,014,000 | 217,000 | 283,000 | 365,000 | 418,000 | 647,000 | 2,209,000 | 844,000 | 1,494,000 | 444,000 | 235,000 | 67,000 | -558,000 | 345,000 | 270,000 | 924,000 | 723,000 | 578,000 | 19,000 | 7,000 |
proceeds from issuance of shares in connection with employee stock purchase plan | 0 | 0 | 0 | 264,000 | ||||||||||||||||
taxes paid related to net share settlement of equity awards | -8,949,000 | -760,000 | ||||||||||||||||||
repayment of acquired debt | -2,000 | 0 | -477,000 | -611,000 | ||||||||||||||||
payment of finance leases | 0 | 22,000 | -112,000 | -99,000 | -53,000 | -84,000 | -83,000 | -410,000 | -585,000 | -729,000 | -427,000 | -782,000 | ||||||||
net cash from financing activities | -5,937,000 | -521,000 | -732,000 | -345,000 | -139,000 | -551,000 | 2,126,000 | 434,000 | 909,000 | -285,000 | -192,000 | -451,000 | -174,000 | 80,000 | -238,000 | -13,000 | 78,166,000 | 118,000 | 8,572,000 | 128,468,000 |
effect of exchange rate changes on cash and cash equivalents | -559,000 | 214,000 | 1,048,000 | -288,000 | -856,000 | 1,038,000 | -107,000 | -507,000 | -54,000 | 277,000 | -112,000 | 73,000 | 1,389,000 | -151,000 | -254,000 | -1,259,000 | ||||
increase in cash, cash equivalents and restricted cash | 183,500,000 | 26,458,000 | -10,343,000 | 15,790,000 | -36,261,000 | -166,965,000 | -2,363,000 | -10,846,000 | -9,902,000 | 81,155,000 | 7,839,000 | 8,892,000 | 136,336,000 | |||||||
cash, cash equivalents and restricted cash, beginning of period | 0 | 0 | 0 | 49,060,000 | 0 | 0 | 0 | 58,848,000 | 0 | 0 | 0 | 79,765,000 | ||||||||
cash, cash equivalents and restricted cash, end of period | 183,500,000 | 26,458,000 | -10,343,000 | 64,850,000 | 3,792,000 | -36,261,000 | 39,956,000 | 41,573,000 | 17,659,000 | 17,117,000 | -32,817,000 | 56,889,000 | ||||||||
supplemental cash flow disclosures | ||||||||||||||||||||
cash paid for interest | 43,000 | 47,000 | 51,000 | 56,000 | 163,000 | -103,000 | 96,000 | 73,000 | 128,000 | 81,000 | ||||||||||
cash paid for income taxes | 2,449,000 | 2,521,000 | 7,948,000 | 1,826,000 | 1,468,000 | 7,745,000 | 3,439,000 | 199,000 | 1,201,000 | 736,000 | 1,107,000 | 53,000 | -24,000 | 148,000 | 196,000 | 283,000 | 47,000 | -31,000 | 74,000 | 158,000 |
property and equipment purchases included in accounts payable | -283,000 | 141,000 | 145,000 | |||||||||||||||||
unrealized gain on short-term investments | -847,000 | 152,000 | 123,000 | 590,000 | -1,582,000 | |||||||||||||||
right-of-use assets obtained in exchange for new operating lease liabilities | 5,000 | 2,446,000 | 79,000 | 2,668,000 | 1,601,000 | -7,000 | ||||||||||||||
accrued purchase consideration | -822,000 | 2,177,000 | ||||||||||||||||||
other liabilities | ||||||||||||||||||||
purchases of noncontrolling interest | -1,000 | |||||||||||||||||||
loss on disposal of subsidiaries | ||||||||||||||||||||
decrease in cash, cash equivalents and restricted cash | -17,275,000 | 17,117,000 | -32,817,000 | -22,876,000 | ||||||||||||||||
acquisition of fixed assets under finance leases | ||||||||||||||||||||
funding of investment loan receivable | -757,000 | 0 | -7,000,000 | |||||||||||||||||
cash paid for acquisition of businesses, net of cash acquired | -11,056,000 | -9,525,000 | -501,000 | -150,000 | 0 | -1,082,000 | ||||||||||||||
payment of acquired debt | ||||||||||||||||||||
property and equipment purchases not paid | 27,000 | 12,000 | 9,000 | -108,000 | 65,000 | 46,000 | ||||||||||||||
operating activities | ||||||||||||||||||||
change in fair value of convertible debt securities | -3,217,000 | 45,000 | -246,000 | -134,000 | 139,000 | -367,000 | -661,000 | |||||||||||||
unrealized loss on short-term investments | 184,000 | 744,000 | -64,000 | 1,160,000 | 83,000 | |||||||||||||||
net proceeds from completing public offerings | ||||||||||||||||||||
amortization (accretion) of premiums and discounts on investments | ||||||||||||||||||||
capitalization of internal-use software development costs | -1,283,000 | -1,574,000 | -1,056,000 | -433,000 | -491,000 | -496,000 | -286,000 | -970,000 | -162,000 | -148,000 | -123,000 | |||||||||
net loss | ||||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities | ||||||||||||||||||||
non-cash income on investments | -1,485,000 | -1,716,000 | ||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||
changes in fair value of convertible debt securities | ||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||
payment of deferred offering costs | ||||||||||||||||||||
cash, cash equivalents and restricted cash, beginning of year | ||||||||||||||||||||
cash, cash equivalents and restricted cash, end of year | ||||||||||||||||||||
deferred offering costs incurred and not paid | 1,839,000 | |||||||||||||||||||
credit facility costs incurred and not paid | ||||||||||||||||||||
reduction of right-of-use assets and lease liabilities due to lease modifications | ||||||||||||||||||||
reclassification of deferred rent liability to right-of-use assets upon adoption of asc 842 | ||||||||||||||||||||
right-of-use assets and lease liabilities recorded upon adoption of asc 842 | ||||||||||||||||||||
amortization of deferred financing and debt issuance costs | ||||||||||||||||||||
loss on disposal of subsidiary | ||||||||||||||||||||
deposit on letter of credit | ||||||||||||||||||||
issuance of shares in connection with employee stock purchase plan | ||||||||||||||||||||
payment of capital leases | -522,000 | -508,000 | -937,000 | -460,000 | -460,000 | |||||||||||||||
net proceeds from completing initial public offering | 0 | 9,006,000 | 128,461,000 | |||||||||||||||||
cash, cash equivalents and restricted cash, at beginning of period | -176,000 | 0 | 269,841,000 | 0 | 0 | 35,619,000 | ||||||||||||||
cash, cash equivalents and restricted cash, at end of period | -2,539,000 | -10,846,000 | 259,939,000 | 7,839,000 | 8,892,000 | 171,955,000 | ||||||||||||||
acquisition of fixed assets under capital lease | ||||||||||||||||||||
acquisition of fixed asset under capital lease | 102,000 | 331,000 | 0 | 4,726,000 | 1,024,000 | |||||||||||||||
change in fair value of share purchase option | ||||||||||||||||||||
cash paid for acquisition of business, net of cash acquired | 0 | 0 | 0 | -350,000 | ||||||||||||||||
proceeds from issuance of series a-1 preferred stock upon exercise of share purchase option | ||||||||||||||||||||
reclassification of share purchase option liability to stockholders’ deficit upon exercise | ||||||||||||||||||||
acquisition of fixed assets under capital leases |